Key Takeaways:
- Geo-location start-up Naurt has gone public with innovative software aimed at optimizing delivery drivers’ parking and building entrance location data, enhancing efficiency in the last-mile delivery industry.
- Naurt’s software promises to increase delivery capacity by 5% to 15% and reduce “stop cost” metrics for delivery companies, leading to substantial financial savings.
- With £300,000 in funding from venture builder Founder + Lightning, Naurt plans to scale its operations and become an industry-standard solution for last-mile deliveries.
The global last-mile food and package delivery industry, worth nearly $990 billion, is experiencing unprecedented challenges as it grapples with the pressure to manage costs and meet soaring demand. In a significant development for the sector, geo-location start-up Naurt has announced its public launch, backed by £300,000 in funding from venture builder Founder + Lighting. Naurt’s innovative software aims to revolutionize the last-mile delivery ecosystem by helping delivery drivers locate optimal parking spots and accurate building entrances, ensuring timely and efficient deliveries.
Redefining Last-Mile Delivery Efficiency
The Naurt platform has honed in on the most pressing issue facing delivery drivers today: the often tedious and time-consuming task of finding suitable parking spots and the correct building entrances. By providing real-time data on optimal locations, Naurt guarantees quicker deliveries, preventing parcels from getting lost or delayed. This breakthrough not only increases delivery capacity by 5% to 15% but also significantly impacts delivery companies’ gross profit margins by reducing the crucial industry metric known as “stop cost.” This metric measures the number of deliveries made per shift divided by the time it takes the driver to complete them.
During its beta testing phase over the last 18 months, Naurt collaborated with 83 organizations, resulting in a remarkable 6.67% increase in daily deliveries. This boost translates into substantial financial savings for companies, particularly when labor costs account for a significant 40% of delivery service expenses.
A Mission to Refine GPS Tracking Accuracy
Founded in 2020, Naurt embarked on a mission to enhance GPS tracking accuracy. The company’s unique software-first approach has garnered recognition, winning Tech Nation’s Rising Stars start-up competition, surpassing 627 other competitors. With a rapidly expanding team, including industry veterans Lucy Woolfenden, former CMO at Yolt, and Cien Solon, formerly with Zilch, Naurt is poised to scale its business further.
Jack Maddalena, CEO of Naurt, emphasized the importance of accurate location data, stating, “We see many businesses miss out due to poor levels of location data quality. Now that we have proven our quality of location tracking and data, this will lift the constraints and open possibilities for teams. Naurt has unlocked this opportunity for businesses, with the delivery sector being our initial focus. It’s become clear that accurate location tracking alone is not sufficient in this fast-paced industry; there’s a desperate need for location intelligence in each and every delivery. A lack of which is costing businesses and people time, money, and safety. We have created a solution that is able to improve on this without the need for extra hardware. The work we are doing will be transformational for people and businesses around the world.”
Addressing the Shift Towards Profitability
The current economic environment has witnessed a shift from growth to profitability, with final-mile companies striving to streamline operations. Naurt’s patent-pending software not only ensures efficient deliveries by determining optimal parking spots and building entrances but also collects invaluable data. Naurt has amassed over 500 million location points in collaboration with global delivery giants, highlighting the platform’s robust capabilities.
Recent studies, such as the research paper from Washington University, have underscored the need for intelligent parking solutions, citing potential savings of up to 27.9% in parking search time. This further emphasizes the value Naurt brings to the industry.
Conor Moylan, Chief Investment Officer at Founder + Lightning, expressed confidence in Naurt’s solution, stating, “We are confident that Naurt has a globally unrivaled location-tracking solution. Last-mile delivery problems are costing businesses millions each year, and Naurt will help slash these inefficiencies.”
A Vision for the Future
Looking ahead, Naurt is eager to integrate its software with numerous delivery companies, aspiring to become an industry-standard solution. Their vision extends beyond deliveries; they foresee their technology aiding utility companies in asset tracking, potentially revolutionizing maintenance protocols.
As the last-mile delivery industry faces unprecedented challenges, Naurt’s innovative geo-location software promises to be a game-changer, helping delivery companies navigate the complex terrain of parking and building entrances more efficiently than ever before.
Ends
About Naurt
Established in 2020 in the UK, Naurt is reshaping the delivery landscape with pioneering software solutions. Their focus on advanced GPS tracking and precise parking and entrance data has simplified deliveries, boosting efficiency and profits for global delivery firms. As a winner of Tech Nation’s Rising Stars award, Naurt has showcased a software-driven approach to tangible challenges. In partnership with industry titans, they’ve captured over 500 million location points, leading the way in delivery and location tracking. Naurt is on a mission to set the benchmark in location data across diverse sectors.
About Founder & Lighting
Founder + Lightning Capital invests in Founders to help them build, grow, and transform their businesses with technology. Over the last decade, Founder + Lightning has built over 35 businesses, protecting Founders’ runway and business growth like their own. Founder + Lightning Capital has an ecosystem of investment, strategy, design, and tech and is looking to invest in Founders building B2B startups. For more information and to apply, visit: Founder + Lightning Capital
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